We now know that the PS4 exists.
We also have a general understanding of its hardware specifications, what its controller looks like and have seen a few tech demos that show off what the system is capable of.

Patrick O'Rourke, Canada.com's legendary technology editor and video game guru, is in New York City. He's reporting live from Sony's PlayStation press event, where the brand new PlayStation 4 is being unveiled.

Microsoft dropped a number of interesting Xbox-related sales statistics today.
The timing of the release of this information is interesting and could be an effort to overshadow Sony's expected announcement of the PlayStation 4 at press conference in New York on Feb.